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Posted by joginvik
Friday 22 April 2011 - 12:32:51

SPORTING INDEX has announced the appointment of former senior Thomson Reuters executive, Mark Redwood, to the post of Non-Executive Chairman.
The company revealed that 50-year-old Redwood headed Thomson Reuters' sales and trading activities until stepping down at the end of December and he will now replace Richard Glynn who left last year to take up the post of Chief Executive Officer for Ladbrokes.

"We believe the sportsbetting landscape is rapidly changing and is mirroring the way the financial data services industry has evolved," said Warren Murphy, Chief Executive Officer for Sporting Index.

"We deliberately sought to bring in someone with a strong financial technology background. From that perspective, Mark coming on board is a real coup for us. His unrivalled expertise in developing and commercialising financial trading data and transactional systems will further strengthen our business as we continue to position Sporting Index at the forefront of the sportsbetting industry."

Sporting Index is backed by leading European private equity investor, HgCapital, and stated that the appointment of Redwood was "further evidence" of its "ambitions in the wholesale data services space".

Redwood continued, "I can see so many parallels between the financial and regulated sportsbetting markets. If Betfair is the exchange of the sportsbetting world, Sporting Index is the market maker and data provider. I am genuinely excited by the prospect of working with the management team to help them further leverage their renowned trading skills and world-class technologies, pioneering a range of services for modern sports books."

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